Section 49-45-9.1 - Filing of financial documents in lieu of bond. - South-dakota Statutes

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49-45-9.1. Filing of financial documents in lieu of bond. If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer bonds in this state, that a bond in the sum required by § 49-45-9 cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization and a bond cannot be obtained, the commission may authorize the filing of other financial documents in lieu of a corporate surety bond.

Source: SL 2008, ch 251, § 8; SL 2009, ch 249, § 1, eff. Mar. 11, 2009.

State Codes and Statutes

Statutes > South-dakota > Title-49 > Chapter-45 > Statute-49-45-9-1

49-45-9.1. Filing of financial documents in lieu of bond. If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer bonds in this state, that a bond in the sum required by § 49-45-9 cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization and a bond cannot be obtained, the commission may authorize the filing of other financial documents in lieu of a corporate surety bond.

Source: SL 2008, ch 251, § 8; SL 2009, ch 249, § 1, eff. Mar. 11, 2009.

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State Codes and Statutes

Statutes > South-dakota > Title-49 > Chapter-45 > Statute-49-45-9-1

49-45-9.1. Filing of financial documents in lieu of bond. If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer bonds in this state, that a bond in the sum required by § 49-45-9 cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization and a bond cannot be obtained, the commission may authorize the filing of other financial documents in lieu of a corporate surety bond.

Source: SL 2008, ch 251, § 8; SL 2009, ch 249, § 1, eff. Mar. 11, 2009.